Law on Bureau of Economic Security officially published

It is noted that the law enters into force on the day following its publication, March 25, and the work of the Bureau will be launched in six months.

The law on the Bureau of Economic Security was approved by the Verkhovna Rada of Ukraine on January 28, 2021.

President of Ukraine Volodymyr Zelensky signed the law on March 22.

The document stipulates that the Bureau of Economic Security will be established as a central executive government body to counteract offenses encroaching on the functioning of the state economy.

The document creates institutional conditions for protecting economic processes from pressure from law enforcement agencies, which is supported by Ukraine's international partners. The main function of the Bureau of Economic Security will be analytical work, not enforcement powers. The Bureau will analyze the beneficiaries of financial transactions and check whether there is a violation of the law in the circulation of funds of certain business or government agencies.

The Bureau will be given the appropriate powers of the Security Service and the Tax Police. The activities of the Bureau will be directed and coordinated by the Cabinet of Ministers.

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